InflaRx: Fails to "shine", brokerages cut to single-digit PTs

Inflarx NV

06/06/2019 10:57

** Drug developer's shares  IFRX.O  up 10.8% at $3.39
premarket, a day after plunging nearly 91%
    ** Co posted disappointing results from mid-stage trial
testing its skin treatment, IFX-1, on Wednesday  urn:newsml:reuters.com:*:nFWN23C091
    ** At least five brokerages slash their PTs to single
digits, with SVB Leerink rating it at a Street-low of $4
    ** Median PT on stock falls to $5 from $58 on May 6
    ** Baird says results of the international SHINE mid-stage
study "go a long way towards disproving the hypothesis of C5a
inhibition" as a meaningful therapeutic target
    ** SunTrust slashes PT to $5 from $55, as the valuation of
antibody IFX-1 in the skin disease contributed to the bulk of
its earlier PT
    ** Seven of nine brokerages rate the stock "hold", while two
recommend selling it

 (Reporting by Tanvi Mehta in Bengaluru)
 ((tanvi.mehta@thomsonreuters.com; +91 80 67494756 ; Reuters
Messaging: tanvi.mehta.thomsonreuters.com@reuters.net))